Domino's Pizza Group PLC increased its market share in the third quarter, announced plans for a new £20mln buy-back together with a full roll-out of Just Eat after a successful trial.
In a third quarter trading statement the group reported its share of the UK takeaway market rose to 7.2% in quarter three from 6.4% last year with like-for-like system sales up 2.4% during the period.
Total orders in the quarter did fall by 1.9% but this was attributed to a tough comparison and the group expects full year 2022 EBITDA to be in the range of £125mln to £135mln, in line with current market expectations.
Quarter four has started well with like-for-like system sales up 10.4% in the first 6 weeks with total orders up 2.6% and as a result of strong recent momentum and confidence in the future the company announced a new £20mln share buyback programme.
Domino’s also announced it is to fully roll out the Just Eat platform in the UK and Ireland which is expected to be completed by the end of full year 2022 and it will also exercise an option over a German investment which will generate a profit on disposal of £40mln to £50mln with the proceeds expected in the first half of 2023.
Elias Diaz Sese, Interim Chief Executive Officer, said: “I'm pleased that we have made a strong start to our important final quarter.”
“We're looking forward to our busiest weeks of the year with the men's football World Cup and the festive season to come."